“Stobart Biomass is seeing increased demand for its range of products across the U.K. and is pleased to support Evermore with this key development in Derry/Londonderry,” said Andrew Tinkler, CEO of Stobart Biomass. “Stobart Biomass has an extensive pipeline of opportunities. We look forward to helping plant developers and funders to bring those opportunities to fruition and growing our biomass business.”

Construction on the 15.8 MW Evermore combined-heat-and-power (CHP) facility is slated to begin within the coming weeks and is projected to be fully operational by summer 2015. It is expected to power more than 25,000 homes a year and prevent 2 million metric tons of wood from reaching the landfill.

The £80 million ($129 million) CHP facility is funded primarily through the U.K. Waste Resources and Energy Fund managed by the Foresight Group, £20 million originated from the U.K. Green Investment Bank. Shaun Kingsbury, GIB CEO, said the project will save the same amount of carbon as removing more than 70,000 vehicles and that every pound invested brought in more than three pounds of private funding.